Structured credit's re-formation

Criticism abounds as the financial system marks the first anniversary of what's come to be known as the "credit crunch". Rating agencies, banks, regulators and investors have all encountered blame and, in the case of the latter group in particular, much of the stress in credit could have been avoided if the principle of 'buyer beware' had been observed more diligently. It is understandable that such a calamitous period should be followed by a bout of finger-pointing, but if the structured market